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Charlotte City Council has endorsed a proposal to upgrade Bank of America Stadium and keep the Carolina Panthers in town for at least 15 more years.

The city would contribute $144 million, and the state would be asked to contribute $62.5 million, according to a city news release. The Panthers would contribute $96.25 million under the deal, which still needs to be finalized and approved.

Charlotte plans to raise its $144 million through a 1 percent increase in Mecklenburg County's food and beverage tax. The state General Assembly would have to approve the tax increase.

The public will have a chance to weigh in before council moves forward with the proposal in the spring.